(27 NOVEMBER 2017)USD / JPY:Holding above 111.00.

Holding above 111.00.

(By Yann Quelenn)

• USD/JPY has broken short-term uptrend

channel and strong support located at 111.12

(20/09/2017 low). The road is wide open for

further decline.

• We favor a long-term bearish bias. Support is

now given at 99.02 (10/08/2013 low). A gradual

rise towards the major resistance at 125.86

(05/06/2015 high) seems unlikely. Expected to

decline further support at 93.79 (13/06/2013 low).